Damian Shaw-Williams, senior analyst at Datamonitor commented: "The recent market chaos and resulting mergers are creating more complex and diverse organisations. While the banks left standing may be larger than ever before, they are more vulnerable to operational risk events, as a result of disparate systems, people and processes. To ensure the benefits of their acquisitions outweigh the costs, banks should move to gain full visibility and control of all their operations."
The new version of BCS OCA enables personalised, real-time management information and analysis. It also provides key performance and risk indicators, as well as control performance monitoring and incident reporting. This end to end solution gives users confidence in their regulatory compliance operations and the ability to capture, track and resolve issues and incidents via a workflow tool. It shows all associated items in context, rather than in isolation.
"We first launched OCA five years ago to address a clear market need - improving operational control in the investment banking environment, which today is more important than ever," said Mike Bush, head of product development at BCS. "The new version of OCA is designed to address the evolving needs of financial institutions by monitoring control hotspots, managing communication up and down the management chain, and enabling immediate response to any issues that arise."
The new version of BCS OCA provides a number of other enhancements, including:
* Improved management data views, providing easier drill down and a better understanding of the control and risk information;
* Enhanced user interface with improved navigation;
* Enhanced grids that support dynamic grouping and sorting with single-click export to Excel;
* Enhanced Flexible View reporting for ad-hoc data extraction;
* Improved usage monitoring to help administrators accurately measure system usage, see usage trends and plan for future scaling.
BCS's software solutions are part-developed by its team of ex-banking practitioners, who offer a wealth of industry expertise.